Insider Selling: Nano Nuclear Energy (NASDAQ:NNE) Director Sells 20,000 Shares of Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) Director Diane Elizabeth Hare sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $32.43, for a total transaction of $648,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Nano Nuclear Energy Stock Down 5.8%

Nano Nuclear Energy stock traded down $1.53 during trading hours on Tuesday, hitting $24.89. 2,906,816 shares of the company traded hands, compared to its average volume of 3,585,106. The firm has a market cap of $1.26 billion, a P/E ratio of -23.93 and a beta of 7.19. The firm’s 50-day simple moving average is $35.65 and its two-hundred day simple moving average is $36.82. Nano Nuclear Energy Inc. has a 1-year low of $17.26 and a 1-year high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Thursday, December 18th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.14. On average, equities research analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds have recently bought and sold shares of the company. Archer Investment Corp acquired a new position in shares of Nano Nuclear Energy in the third quarter worth about $39,000. Tripletail Wealth Management LLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter valued at approximately $43,000. US Bancorp DE lifted its position in shares of Nano Nuclear Energy by 51.9% in the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after acquiring an additional 400 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Nano Nuclear Energy in the 3rd quarter worth approximately $48,000. Finally, NewEdge Advisors LLC boosted its stake in Nano Nuclear Energy by 385.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock worth $51,000 after purchasing an additional 1,520 shares during the period.

Wall Street Analyst Weigh In

NNE has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Wednesday, October 8th. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Nano Nuclear Energy has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

About Nano Nuclear Energy

NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY.